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Cellulant Lied, They Never Found Us Guilty Of ‘Sharp Practices’ ― Sacked Employees Lament

Cellulant Lied, They Never Found Us Guilty Of 'Sharp Practices' ― Sacked Employees Lament

The trade of words between Cellulant Nigeria Limited and its sacked employees has gotten messier as the affected staff claimed all the allegation the company leveled against them were false. 

Cellulant had claimed the employees were sacked because of some irregularities discovered in one of its platform, Agrikore marketplace. 

However, in their reaction, the ex-staff said the company did not complete its audit before sending them their pick letters. 

“Isn’t it suspicious that the chairman of a board of directors will be the one writing partners and staff? Where is management?

“This is already a red flag that there are problems,” an ex-staff said.

“Isn’t it also interesting that a media team will allow a memo to be published on print. It’s an act of desperation to cover up things.

“If there is fraud, companies isolate the issue, investigate, share report of culpability, let people go quietly and business continues. why are they shutting down a business that is supporting food security?

In their previous response, Cellulant had claimed it hired “an independent “Big 4” accounting firm to conduct a complete forensic review of marketplace wallets and a well-respected Nigerian law firm to lead a full, independent investigation of the platform” said; the audit was never completed before they were being served pink letters.

Reacting, the affected employees said; “according to their (Cellulant) response, they said the sacked staffs were involved in some sharp practices, right? But is it possible to sack somebody when you are still conducting forensic audit?

“We were suspended 2nd September and by 15th September, our appointments were terminated without the conclusion of the forensic audit.

“Why are they in a haste to sack us. At least, they should have completed the audit which would have revealed if we are guilty of the allegation.”

When asked about what they think could inspire such action, the employees said they were still dazzled but “suspected it as a ploy to bring in new people loyal to the chairman, board of directors and the chief compliance officer”.

On further probing of these ex-employees on why the need for such action? Is it that such will bring in more profit for the company or it is suspected they are loyal to a particular person or faction the company is trying to handicap.

They alleged that the action was taken due to “unhealthy corporate governance practices by the board of directors and the group compliance unit led by one Mr Solomon Abiakalam.”

When asked to elucidate their allegation, they said; “Looking at this situation the following are suspicions:
“1. Cellulant is under a hard hand doing everything to take over the business and discredit the founders.
“2. Someone is using the chief compliance officer to paint the co-founder and people connected to him as lacking in integrity
“3. There is a possibility that a hijack is planned and the chief compliance officer is the one delivering the ploy
“4. Or Cellulant is hiding something and working quickly to cover it up.”
”5. We believe the board has been threatened of the Nigerian founder ever since he raised a significant amount of money”


“Whatever results from the fake audit is discredited as there are no results of any wrongdoing and the company without Mr Bolaji is just headed for destruction.

“How can a founder of Mr Bolaji’s achievement and experience step down and the board allowed him to go? They have a plan and everything will unfold.”

However, in its response, Cellulant said all allegations by the ex-employees were “false and unfounded”.

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